Eurozone: Industrial output rebounds in May
July 12, 2019
Industrial output rebounded in May, after recording two contractions in a row. Industrial production increased a seasonally-adjusted 0.5% over the previous month, contrasting April’s revised 0.4% contraction (previously reported: -0.5% month-on-month). The result overshot market expectations of a 0.2% rise.
The upturn was driven by chiefly rebounds in the output of capital and consumer goods. Looking at the individual economies for which data is available, 9 economies saw industrial production rebound in May, including Germany and France.
On an annual basis, industrial production fell 0.5%, a larger drop then April’s 0.4% decrease. Annual average variation in industrial production slumped to minus 0.3% in May from April’s minus 0.1%, marking the worst result in over five years.